Risk management guidelines related to anti-money laundering and the financing of terrorism Issued by the Basel Committee

10 July 2013 at 10:32

The Basel Committee on Banking Supervision has published a new consultation “Sound management of risks related to money laundering and financing of terrorism”. 

The Committee has a longstanding commitment to promote the implementation of sound policies and procedures related to anti-money laundering and countering the financing of terrorism. These are important safeguards in protecting the safety and soundness of banks and the integrity of the international financial system. 

The proposed guidelines take into account the February 2012 recommendations set out in the Financial Action Task Force International Standards on Combatting Money Laundering and the Financing of Terrorism & Proliferation.

In particular, the proposal reflects the importance of a risk-based approach, which is the first of the FATF recommendations, and is fully aligned with other Committee guidance on this topic. 

To read the consultative document please click here

Comments on the proposals should be submitted by Friday 27th September 2013.

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